SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 14, 2000
TUMBLEWEED, INC.
(Exact name of registrant as specified in charter)
Delaware 333-57931 61-1327945
(State or other (Commission File Number) (IRS Employer
jurisdiction or Identification No.)
incorporation)
1900 Mellwood Avenue
Louisville, Kentucky 40206
(Address of principal executive offices)
Registrant's telephone number, including area code: (502) 893-0323
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Item 5. Other Events
On January 14, 2000 Tumbleweed, Inc. announced that its Board of Directors
has approved the repurchase from time to time of up to $500,000 of the company's
common stock. This summary of the attached press release is qualified in its
entirety by the complete text of such document, a copy of which is attached
hereto as Exhibit 99.1.
Item 7. Financial Statements and Exhibits
(c) Exhibit 99.1 Press Release dated January 14, 2000.
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
TUMBLEWEED, INC.
----------------
(Registrant)
Date: January 14, 2000 By: /s/James M. Mulrooney
------------------
James M. Mulrooney
Executive Vice President
Chief Financial Officer
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Exhibit Index
Exhibit No.
- -----------
99.1 Press Release dated January 14, 2000
<PAGE>
Exhibit 99.1
FOR IMMEDIATE RELEASE
For more information, contact:
Wayne P. Jones - (502) 893-0323 (X303)
Vice President of Marketing & Development
TUMBLEWEED ANNOUNCES STOCK REPURCHASE AUTHORIZATION
Louisville, Kentucky, January 14, 2000 -
Tumbleweed, Inc. (Nasdaq/NM: TWED) today announced that its Board of Directors
has approved the repurchase from time to time of up to $500,000 of the company's
common stock. Purchases may be made in the open market as well as by private
transaction at times and prices considered appropriate by the Company, subject
to applicable rules and regulations. The Company currently has 5,881,543 shares
of common stock outstanding.
Tumbleweed restaurants feature Southwestern food with gas-fired open grilling
over mesquite logs to add a rich smoky flavor to its steaks, ribs, chicken,
chops, seafood and fajitas. The menu also features a spicier, Tex-Mex version of
burritos, enchiladas and tacos than traditional Sonoran-style Mexican cuisine.
The restaurant's interior reflects the Southwest flavor of the menu. Blankets,
saddles, rattlesnake skins and other Southwestern motif adorn the walls.
Tumbleweed opened its first restaurant in 1975 in New Albany, Indiana.
Restaurants are currently open in Ohio, Illinois, Indiana, Kentucky, Tennessee
and Wisconsin. International locations include Germany, Jordan, Saudi Arabia and
Egypt. Tumbleweed currently has 52 restaurants in operation, with 29
company-owned locations and 23 franchised restaurants, including 6 international
units. For additional information, visit Tumbleweed's website at
www.tumbleweedrestaurants.com.
This release includes forward-looking statements about Tumbleweed and its
business. For this purpose, words such as expects, believes, estimates,
anticipates, plans and similar expressions are intended to identify
forward-looking statements. Many things could cause our actual results to differ
materially from those projected in the forward-looking statements, including the
availability and cost of financing and other events that could affect our
restaurant expansion program, changes, in food and other costs, changes in
national, regional or local economic conditions, changes in consumer tastes,
competitive factors such as changes in the number and location of competing
restaurants and the availability of experienced management and hourly employees.
You can obtain additional information about Tumbleweed and the things which
could affect our results from our Forms 10-Q and 10-K filed with the Securities
and Exchange Commission.
